All eyes on US Fed Chair Powell’s speech at the Greater Providence Chamber of Commerce today

US Federal Reserve chair will be speaking at the Greater Providence Chamber of Commerce today. The Greater Providence Chamber of Commerce’s 2025 Economic Outlook Luncheon will be livestreamed on Tuesday, September 23, at 11:30 a.m. ET via the URL provided on the Providence Chamber website. The 2025 GPCC Economic Outlook Luncheon will feature Fed Chair Powell, who is expected to speak at 12:35 p.m. Eastern Time.

Markets At Record Highs

U.S. stock market indices, such as the blue-chip Dow Jones Industrial Average, the benchmark S&P 500, and the tech-heavy Nasdaq, are all at record highs. Market sentiments are bullish as far as the US Fed’s rate cut campaign and the current outlook on US corporate earnings are concerned.

The dot plot revealed that the median participant projects that the appropriate level of the federal funds rate will be 3.6 percent at the end of this year, 3.4 percent at the end of 2026, and 3.1 percent at the end of 2027. This path is 1/4 percentage point lower than projected in June.

There are two more rate cuts expected this year and only one in 2026, as per the dot plot released on the September 17 FOMC meeting.

The next FOMC meeting takes place on October 28-29 followed by another on December 9-10.

Powell’s Speech Today

Last week, the US Fed’s FOMC announced a rate cut of for the first time in 2025 after keeping the rates unchanged since December 2024.

Investors will be closely watching Powell’s speech and the Fed’s perspective on monetary policy following last week’s decision to lower the benchmark rate by a quarter percentage point to 4.00%-4.25%, aimed at supporting growth amid softening labor markets.

In his last press conference at the FOMC meeting on September 17, Powell made clear that the rate cut should not be interpreted by markets as the start of aggressive easing. At that time, Powell’s tone was cautious, characterizing the action as ‘risk management.’

“With downside risks to employment having increased, the balance of risks has shifted. Accordingly, we judged it appropriate at this meeting to take another step toward a more neutral policy stance,” Powell said during the previous press conference.

Powell’s take on the US economy and how inflation and job market data are shaping the US Fed’s monetary policy will be keenly watched by global investors.